by The global flexible electronics market is estimated to be valued at US$ 27.42 Billion In 2022 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Flexible electronics refer to electronic devices, circuits, and systems that are manufactured on flexible substrates such as plastic or metal foil. These electronics offer several advantages such as being lightweight, thin, and bendable, making them suitable for applications in various sectors including consumer electronics, healthcare, automotive, and aerospace. The need for flexible electronics is increasing as manufacturers strive to create more portable and aesthetically appealing devices. Additionally, the demand for wearable electronics and Internet of Things (IoT) devices is also driving the growth of the flexible electronics market.
Market Key Trends:
One key trend in the flexible electronics market is the increasing adoption of flexible displays. With advancements in display technology, flexible displays are becoming more common in smartphones, televisions, and other electronic devices. Flexible displays offer advantages such as improved durability, lower power consumption, and the ability to bend or fold. This trend is driven by consumer demand for devices with larger screen sizes and more immersive user experiences. Companies such as Au Optronics Corp., LG Electronics, and E Ink Holdings Inc. are investing in research and development of flexible display technologies to capitalize on this market trend.
Porter’s Analysis
Threat of new entrants: The Flexible Electronics Market poses a moderate threat to new entrants due to high initial investment requirements and the need for extensive technical knowledge. Established players have already created a strong foothold in the market, making it difficult for new entrants to compete effectively.
Bargaining power of buyers: Buyers in the flexible electronics market have a moderate bargaining power. This is because there are several key players in the market, providing buyers with multiple options to choose from. Additionally, buyers can leverage their purchasing power to negotiate favorable prices and terms.
Bargaining power of suppliers: Suppliers in the flexible electronics market hold a moderate bargaining power. While there are several suppliers available, the specialized nature of components required for flexible electronics limits the options for buyers. However, buyers can still exert some control over the suppliers by ensuring quality standards are met and exploring alternative suppliers.
Threat of new substitutes: The threat of new substitutes in the flexible electronics market is relatively low. The unique properties and functionalities offered by flexible electronics make it difficult for substitutes to replicate their capabilities. Additionally, the ongoing research and development in the market further solidify the position of flexible electronics as the preferred choice.
Competitive rivalry: The competitive rivalry in the flexible electronics market is high. Key players in the market continuously strive to gain a larger market share through product innovation, partnerships, and acquisitions. This intense competition drives innovation and product development, benefiting the overall market growth.
Key Takeaways
The global flexible electronics market is expected to witness high growth, exhibiting a CAGR of 12% over the forecast period from 2023 to 2030. This growth can be attributed to the increasing demand for lightweight, flexible, and portable electronic devices across various industries such as healthcare, automotive, consumer electronics, and aerospace.
In terms of regional analysis, Asia Pacific is projected to be the fastest-growing and dominating region in the flexible electronics market. The region’s rapid industrialization, technological advancements, and the presence of major electronics manufacturers contribute to its growth. Additionally, the increasing adoption of flexible displays and wearable devices in countries like China, Japan, and South Korea further boosts the market in this region.
Key players operating in the flexible electronics market include Au Optronics Corp., Blue Spark Technologies, Cymbet Corporation, E Ink Holdings Inc., Enfucell Softbattery, Imprint Energy Inc., LG Electronics, and Palo Alto Research Center Incorporated. These companies are actively involved in research and development activities, partnerships, and product launches to gain a competitive edge and expand their market presence.
Overall, the flexible electronics market is poised for significant growth fueled by technological advancements and increasing demand for flexible devices across various industries. This presents ample opportunities for both existing players and new entrants to capitalize on the market potential and drive innovation in the field of electronics.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
